ABSTRACT
WE have hitherto discussed the aims and principles upon which price policy depends, wherever the former conditions of unregulated competition are replaced by price-fixing agreed between members of trade associations. Price-maintenance may, of course, be effected between single retailers and single manufacturers; it may be carried out by agreement between a cartel and single retailers; but the main and most general case is the agreement either binding members of a trade association and of interlocking trade associations, or creating bilateral arrangements between retailers' and suppliers' associations. By what measures is this price-maintenance policy generally made effective? Apart from indirect measures, aimed at influencing prices by restricting the number of competitors, there are two main types of measureagreements designed to bind members of the association to the observance of fixed prices and margins, and action against the infringement of such price-maintenance by price-cutters.
